Cornercap Investment Counsel Inc. Decreases Stock Position in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Cornercap Investment Counsel Inc. lessened its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 49.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,581 shares of the business services provider’s stock after selling 5,461 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Euronet Worldwide were worth $554,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. increased its holdings in shares of Euronet Worldwide by 0.7% in the third quarter. Oppenheimer & Co. Inc. now owns 18,074 shares of the business services provider’s stock valued at $1,793,000 after purchasing an additional 133 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Euronet Worldwide in the third quarter valued at approximately $997,000. WCM Investment Management LLC increased its holdings in shares of Euronet Worldwide by 0.3% in the third quarter. WCM Investment Management LLC now owns 146,347 shares of the business services provider’s stock valued at $14,639,000 after purchasing an additional 478 shares during the last quarter. Versor Investments LP increased its holdings in shares of Euronet Worldwide by 60.3% in the third quarter. Versor Investments LP now owns 11,732 shares of the business services provider’s stock valued at $1,164,000 after purchasing an additional 4,411 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Euronet Worldwide in the third quarter valued at approximately $15,258,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Needham & Company LLC cut their target price on Euronet Worldwide from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Citigroup cut Euronet Worldwide from a “buy” rating to a “neutral” rating and cut their target price for the stock from $118.00 to $110.00 in a research note on Friday, October 18th. Monness Crespi & Hardt raised Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 24th. Oppenheimer assumed coverage on Euronet Worldwide in a research note on Tuesday, October 1st. They set an “outperform” rating and a $121.00 target price for the company. Finally, StockNews.com raised Euronet Worldwide from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $125.38.

Insider Activity at Euronet Worldwide

In related news, CEO Juan Bianchi sold 4,000 shares of Euronet Worldwide stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $102.58, for a total value of $410,320.00. Following the completion of the transaction, the chief executive officer now directly owns 12,440 shares in the company, valued at approximately $1,276,095.20. This trade represents a 24.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.50% of the stock is currently owned by company insiders.

Euronet Worldwide Trading Down 0.3 %

NASDAQ:EEFT opened at $101.88 on Friday. The firm has a market cap of $4.48 billion, a PE ratio of 14.72 and a beta of 1.46. The stock has a fifty day moving average price of $99.43 and a 200 day moving average price of $103.97. Euronet Worldwide, Inc. has a 12-month low of $81.99 and a 12-month high of $117.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.88.

Euronet Worldwide (NASDAQ:EEFT) last released its earnings results on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.11. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.04 billion. Euronet Worldwide had a return on equity of 26.86% and a net margin of 8.49%. During the same period last year, the business posted $2.53 earnings per share. Sell-side analysts anticipate that Euronet Worldwide, Inc. will post 7.87 earnings per share for the current fiscal year.

Euronet Worldwide Company Profile

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. It operates through three segments: Electronic Fund Transfer Processing, epay, and Money Transfer. The Electronic Fund Transfer Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit and prepaid card outsourcing, card issuing, and merchant acquiring services.